Jinlongyu Group Co Ltd Stock Forecast
Jinlongyu Group Co Ltd stock price up 1.41% on Monday
(Updated on May 20, 2024)
The Jinlongyu Group Co Ltd stock price gained 1.41% on the last trading day (Monday, 20th May 2024), rising from ¥17.72 to ¥17.97. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.85% from a day low at ¥17.41 to a day high of ¥18.08. The price has been going up and down for this period, and there has been a -5.42% loss for the last 2 weeks. Volume fell on the last day by -170 thousand shares and in total, 15 million shares were bought and sold for approximately ¥269.96 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.36% during the next 3 months and, with a 90% probability hold a price between ¥17.12 and ¥24.03 at the end of this 3-month period.
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002882.SZ Signals & Forecast
There are mixed signals in the stock today. The Jinlongyu Group Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥17.98. On a fall, the stock will find some support from the short-term average at ¥17.72. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -5.42%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Jinlongyu Group Co Ltd stock
Jinlongyu Group Co Ltd finds support from accumulated volume at ¥17.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.670 between high and low, or 3.85%. For the last week, the stock has had daily average volatility of 6.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002882.SZ) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Jinlongyu Group Co Ltd to open at ¥17.82, and during the day (based on 14 day Average True Range), to move between ¥16.62 and ¥19.32, which gives a possible trading interval of +/-¥1.35 (+/-7.52%) up or down from last closing price. If Jinlongyu Group Co Ltd takes out the full calculated possible swing range there will be an estimated 15.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥18.29 (1.78%) than the support at ¥17.60 (2.06%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Jinlongyu Group Co Ltd stock A Buy?
Jinlongyu Group Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.166 Sell Candidate Unchanged
Predicted Opening Price for Jinlongyu Group Co Ltd of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ¥17.82 ( 0.83%) | ¥17.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002882.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.49 | 2.89 % | |
| R2 | 18.23 | 1.47 % | ||
| R1 | 18.08 | 0.590 % | ||
| Current price: | 17.97 | |||
| Support | S1 | 17.56 | -2.26 % | |
| S2 | 17.41 | -3.14 % | ||
| S3 | 17.15 | -4.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.92 | 10.85 % | |
| R2 | 18.96 | 5.51 % | ||
| R1 | 18.29 | 1.78 % | ||
| Current price | 17.97 | |||
| Support | S1 | 17.60 | -2.06% | |
| S2 | 17.07 | -5.01% | ||
| S3 | 15.75 | -12.35% |
002882 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 10, 2023 | Jul 10, 2023 | Jul 10, 2023 | ¥0.200 | 1.23% |
| 2 | Jul 13, 2022 | Jul 13, 2022 | Jul 13, 2022 | ¥0.200 | 1.90% |
| 3 | Jul 23, 2021 | Jul 23, 2021 | Jul 23, 2021 | ¥0.300 | 3.47% |
| 4 | May 29, 2020 | May 29, 2020 | May 29, 2020 | ¥0.300 | 3.19% |
| 5 | Jun 03, 2019 | Jun 03, 2019 | Jun 03, 2019 | ¥0.150 | 1.20% |
FAQ
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